Modeling the common-mode behavior of power electronic systems can be a challenge. This research aims to simplify the process by developing a modeling approach based on Thévenin common-mode equivalent circuits. The Thévenin common-mode equivalent circuits prove to be both straightforward to construct and reliable in predicting worst-case common-mode behavior. In this paper, a theoretical understanding of the Thévenin-based modeling approach is first provided. Subsequently, methods to characterize the Thévenin parameters are established. The modeling approach is then validated experimentally on a dc micro-grid. INDEX TERMS Electromagnetic interference (EMI), leakage current, common-mode (CM), Thevenin equivalent circuit, micro-grid.